Management Fees - Central Coast, NSW

[Montoya]

Hi All,

I did a quick search on the forum and found a few related topics, but none for this specific area.

I've received a few quotes now, and all are between the 7-7.5% range which is about 2% higher than Sydney. Is this the norm for the area?

Also, I expected that if I went with the agent that sold the house to me, that they'd give me a discounted rate or some sort of incentive to give them my business as it is a rental, but they didn't budge.. I thought this to be a bit strange. Would anyone in my shoes push the matter a little further?

I know that % isn't everything, I am confident that the PM from this specific agency has a wealth of experience and good knowledge of the area, so I will probably end up with them regardless.

 

[baby blue eyes]

I have two up there
One agency Liz Sloane 6.6% pretty good service, she travels the area
GL Jackson I get charged less but it is a multiple income property. Lorraine does my work there and they are in ettalong

 

[Michael_X]

I use a pretty big agency in the Toukley area. Have two properties with them at 6.6%. They advertised 8.8% when I first contacted them.

Drop me a pm if you need more information.

 

[nww]

Central Coast is a large area,
What area are we talking.

 

[MichaelGilbert]

I use to be a PM in Kincumber, Central Coast - about 4 years ago.

Yes the rates are typically higher than Sydney but the rents are typically lower.

I use to charge around 7.7% (including GST) but I must stress if you want to use an agent its more important to find a good one rather than one that is 1 or 2% cheaper.

I would recommend using Paul from Wiseberry Coastal in Gosford. He manages my property I have in Erina.
Ask to speak with Paul on 4322 2889. Tell him I sent you.

 

[Scott No Mates]

I use to charge around 7.7% (including GST) but I must stress if you want to use an agent its more important to find a good one rather than one that is 1 or 2% cheaper.

If they are able to undercut their rate by 20% do you get 20% less service?

 

[MichaelGilbert]

If they are able to undercut their rate by 20% do you get 20% less service?

Hey Scott,

Most good agents will not undercut their rate (unless the customer is a special client - own various properties in the area for example).

Property Managers that can't sell their value compete on price. (obviously not all but you get my drift). Hence the reason I say its not all about price.

The other thing is that some agency's go for bulk. So what I mean by that is, the property manager (themselves) may good great and still charge less (or undercut) BUT to make up for that they manage a lot more properties (per property manager). Therefore the PM is unable to spend enough time on each property to ensure its managed properly.

That's just what I've noticed. I'm sure everyone is going to have different opinions depending on their experiences.